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Are We Pre-Trading A Dovish Announcement From Bernanke?

Posted by Dean Popplewell at 6:48 am EDT, 05/22/2013

St Louis Fed President, James Bullard, a supposed hawk, has been bullying the ‘single’ currency bears into temporary submission ahead of today’s FOMC meeting minutes or at least he should be held responsible for getting the ball rolling. Yesterday, he suggested that the most appropriate policy for the Fed is to continue the current QE3 policy. Dovish comments from the voting hawk has put the ‘mighty’ dollar under pressure when the market least expected it when he mentioned adjusting the [...] read more

Filed under: Dean's FX, Market Monitor, USD, EUR, GBP, JPY
Forex Rates
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Market Pulse »

AUDUSD – Slide Continues as Aussie Consumer Confidence Plummets

Posted by Kenny Fisher 7:56 am EDT, 05/22/2013

The Australian dollar continues to fall, as the pair fell  below the 0.98 line in Wednesday’s Asian session. AUD/USD continues to struggle, and has dropped into the mid-0.97 range. The Aussie took a hit as Westpac Consumer Sentiment posted another sharp decline. In the US, all eyes will be fixed on the Federal Reserve, as Bernard Bernanke testifies before a Congressional Committee and the Fed releases the minutes of its previous policy meeting. The US will release Existing Home Sales later in [...] read more

Filed under: USD, AUD

Economic Exposure »

AUD/USD – Subpar Consumer Confidence pushing price lower

Posted by Mingze Wu 2:54 am EDT, 05/22/2013

The Australia Westpac Consumer Confidence Index fell 7%, the largest M/M fall since Dec 2011 as the index broke the 100.0 par level, indicating that most Australians surveyed were pessimistic about the economy. Chief economist Bill Evans believe that the decline is partly due to concerns over the recently announced budget. Readings was 1.8% higher in the post-budget period vs the pre-budget period due to bearish sentiment that were perpetuated via the media before the announcement. Once the budget was [...] read more

Filed under: USD, AUD

Central Bank Watch »

Helicopter Ben Expected to Shoot Hawks Down in Congress

Posted by Mingze Wu 9:05 pm EDT, 05/21/2013

Federal Reserve Chairman Ben Bernanke is expected to maintain his dovish tone when he speaks to Congress Wednesday, and he is likely to dispel any notion that the Fed is ready to cut back on its easing policy. The markets have been speculating the Fed could start to gradually cut back on its $85 billion monthly bond buying program, and that view has been furthered by some hawkish Fed officials who would like to see quantitative easing wind down sooner, rather [...] read more

Filed under: USD

OANDA's open position ratios

  1. AUD/USD
    70.78% 29.22%
  2. USD/CHF
    57.70% 42.30%
  3. GBP/USD
    54.08% 45.92%
  4. EUR/USD
    49.56% 50.44%
  5. USD/JPY
    47.08% 52.92%

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May
22
Today’s Global
Market Events
Tentative
JPY
BOJ Press Conference
4:00am
EUR
Current Account
(F)14.2B (P)16.3B
4:30am
GBP
MPC Meeting Minutes
(F)0-0-9 (P)0-0-9
GBP
Retail Sales m/m
(F)0% (P)-0.7%
GBP
Public Sector Net Borrowing
(F)7.6B (P)16.7B
EUR
German 10-y Bond Auction
(F)N/A (P)1.28/1.6
All Day
EUR
EU Economic Summit
6:00am
CHF
SNB Chairman Jordan Speaks
GBP
CBI Industrial Order Expectations
(F)-18 (P)-25
7:00am
GBP
MPC Member Bean Speaks
8:30am
CAD
Core Retail Sales m/m
(F)0.2% (P)0.7%
CAD
Retail Sales m/m
(F)0.2% (P)0.8%
10:00am
USD
Existing Home Sales
(F)4.99M (P)4.92M
USD
Fed Chairman Bernanke Testifies
USD
Treasury Sec Lew Speaks
10:30am
USD
Crude Oil Inventories
(F)-0.4M (P)-0.6M
2:00pm
USD
FOMC Meeting Minutes
9:00pm
AUD
MI Inflation Expectations
(F)N/A (P)2.2%
9:45pm
CNY
HSBC Flash Manufacturing PMI
(F)50.5 (P)50.4